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28360The Real Deal Magazine provides cutting edge news on the real estate market in New York City and beyond.
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Sat, 17 Feb 2018 22:00:04 +0000hourly1https://wordpress.org/?v=4.9.1http://feeds.feedburner.com/trdnews?format=skintrdnewshttps://feedburner.google.comHere’s why Wall Street is snapping up poorer single-family homeshttp://feedproxy.google.com/~r/trdnews/~3/oKkoMuFUK_g/
https://therealdeal.com/2018/02/17/heres-why-wall-street-is-snapping-up-poorer-single-family-homes/#respondSat, 17 Feb 2018 22:00:04 +0000Rich Bockmannhttps://therealdeal.com/?p=3133198Wall Street companies that started snapping up single-family homes in the wake of the foreclosure crisis tended to stay away from cheaper properties rented by poorer tenants. But a new wave of investors are buying the homes cast aside by the big, established landlords, Bloomberg News reported. “Larger companies are getting rid of underperforming assets,” explained Jade Rahmani, an analyst at Keefe, Bruyette & Woods Inc. “That’s leaving an opening for companies to move more […]

]]>https://therealdeal.com/2018/02/17/heres-why-wall-street-is-snapping-up-poorer-single-family-homes/feed/0https://therealdeal.com/2018/02/17/heres-why-wall-street-is-snapping-up-poorer-single-family-homes/Canada’s pot industry will need 8M sf of industrial space by 2020http://feedproxy.google.com/~r/trdnews/~3/73Sbhd8dcAQ/
https://therealdeal.com/2018/02/17/canadas-pot-industry-will-need-8m-sf-of-industrial-space-by-2020/#respondSat, 17 Feb 2018 21:00:10 +0000Rich Bockmannhttps://therealdeal.com/?p=3133242You must be high, eh? Canada’s pot industry will need more than 8 million square feet of industrial real estate by 2020, Bloomberg News reported. That would be about the size of Amazon’s Seattle headquarters, which houses about 40,000 workers across multiple buildings. The 8 million-square-foot figure includes distribution and logistics centers, and would be more than five times the current level, according to JLL. Canada is slated to make recreational marijuana legal in August […]

]]>https://therealdeal.com/2018/02/17/canadas-pot-industry-will-need-8m-sf-of-industrial-space-by-2020/feed/0https://therealdeal.com/2018/02/17/canadas-pot-industry-will-need-8m-sf-of-industrial-space-by-2020/Fire at Little Italy building injures 13http://feedproxy.google.com/~r/trdnews/~3/b4hgmttv_ws/
https://therealdeal.com/2018/02/17/fire-at-little-italy-building-injures-13/#respondSat, 17 Feb 2018 20:00:29 +0000Rich Bockmannhttps://therealdeal.com/?p=3133258A fire tore through a Little Italy building Saturday, injuring 13 people. The fire damaged the renowned restaurant Angelo’s of Mulberry Street and the floor of the apartment above at 146 Muberry Street, the Daily News reported. Veracity Equities bought the six-story building in 2015 for $13.25 million, property records show. The blaze broke out around 7:40 a.m., according to the News. Investigators were still trying to determine what caused the fire. Most people were […]

]]>https://therealdeal.com/2018/02/17/fire-at-little-italy-building-injures-13/feed/0https://therealdeal.com/2018/02/17/fire-at-little-italy-building-injures-13/Cuomo’s Long Island Sound crossing could cost as much as $55 billionhttp://feedproxy.google.com/~r/trdnews/~3/0I1o22_3uck/
https://therealdeal.com/2018/02/17/cuomos-long-island-sound-crossing-could-cost-as-much-as-55-billion/#respondSat, 17 Feb 2018 19:00:48 +0000Rich Bockmannhttps://therealdeal.com/?p=3133182Gov. Andrew Cuomo’s already called for $100 billion in infrastructure projects, so what’s a few tens of billion dollars more? The Democratic governor wants to build a bridge or a tunnel crossing Long Island Sound that would connect Suffolk and Nassau counties with Westchester County The price tag? A recent feasibility study found it could be as high as a whopping $55 billion, the Wall Street Journal reported. That would make it one of the […]

]]>https://therealdeal.com/2018/02/17/cuomos-long-island-sound-crossing-could-cost-as-much-as-55-billion/feed/0https://therealdeal.com/2018/02/17/cuomos-long-island-sound-crossing-could-cost-as-much-as-55-billion/Here’s the little secret to winning a bidding war that could totally backfirehttp://feedproxy.google.com/~r/trdnews/~3/cmvNYmbNLGs/
https://therealdeal.com/2018/02/17/heres-the-little-secret-to-winning-a-bidding-war-that-could-totally-backfire/#respondSat, 17 Feb 2018 18:00:54 +0000Rich Bockmannhttps://therealdeal.com/?p=3133166Going up? In a hot real estate market, buyers will often put in offers with an escalation clause – something akin to an auto bid in the event a bidding war breaks out. But there are drawbacks for those on both sides of the negotiating table, according to the Wall Street Journal. An escalation clause is an addendum to a contract that automatically raises a buyer’s offer by predetermined increments up to a maximum amount. […]

]]>https://therealdeal.com/2018/02/17/heres-the-little-secret-to-winning-a-bidding-war-that-could-totally-backfire/feed/0https://therealdeal.com/2018/02/17/heres-the-little-secret-to-winning-a-bidding-war-that-could-totally-backfire/Hong Kong office tower asking $3B finds no takershttp://feedproxy.google.com/~r/trdnews/~3/6Ea17bBZTXQ/
https://therealdeal.com/2018/02/17/hong-kong-office-tower-asking-3b-finds-no-takers/#respondSat, 17 Feb 2018 17:21:09 +0000Rich Bockmannhttps://therealdeal.com/?p=3133142A Hong Kong company took a 59-story office tower off the market that it had listed for $3.1 billion amid a heated market. Hong Kong’s Champion REIT had listed the Langham Place Office Tower in Mongkok with Savills in July. Company CEO Ada Wong told Bloomberg News that the owner is taking a “passive” role with the property after Savills’ agency ended. “Anyone can give me an offer and I would consider it,” she said. […]

]]>https://therealdeal.com/2018/02/17/hong-kong-office-tower-asking-3b-finds-no-takers/feed/0https://therealdeal.com/2018/02/17/hong-kong-office-tower-asking-3b-finds-no-takers/In Tokyo, “location, location, location” means the three Ashttp://feedproxy.google.com/~r/trdnews/~3/HzMpCOWuwP8/
https://therealdeal.com/2018/02/17/in-tokyo-location-location-location-means-the-three-as/#respondSat, 17 Feb 2018 15:00:59 +0000Rich Bockmannhttps://therealdeal.com/?p=3133126Luxury high-rises in Tokyo usually don’t demand the same sky-high prices than their counterparts in London, Hong Kong and New York. That’s because Japanese buyers, drivers of the local market, eschew luxuries like flashy interiors, a pool in the building or even multiple bathrooms in a unit. But the importance of location is universal in real estate around the globe. And in Tokyo, the best location has long been and remains the areas close to […]

]]>https://therealdeal.com/2018/02/17/in-tokyo-location-location-location-means-the-three-as/feed/0https://therealdeal.com/2018/02/17/in-tokyo-location-location-location-means-the-three-as/Everything and the office sink: Adjmi, Andreoli accused of stiffing landlord on $31K in renthttp://feedproxy.google.com/~r/trdnews/~3/XkZQTOOiVzg/
https://therealdeal.com/2018/02/16/everything-and-the-office-sink-adjmi-andreoli-accused-of-stiffing-landlord-on-31k-rent/#respondFri, 16 Feb 2018 23:27:07 +0000Lexihttps://therealdeal.com/?p=3132806Architects can spend hours obsessing over fixtures in an office space. But a Brooklyn landlord claims two architects removed the sink and other fixtures from her building and stiffed her on more than $30,000 in rent. Loeffler Properties, a Maryland-based company headed by Vera Loeffler, is suing Morris Adjmi and Aldo Andreoli for allegedly failing to pay $31,249.98 in rent for three months at 70 North 8th Street. The two also failed to pay $7,193 […]

]]>https://therealdeal.com/2018/02/16/everything-and-the-office-sink-adjmi-andreoli-accused-of-stiffing-landlord-on-31k-rent/feed/0https://therealdeal.com/2018/02/16/everything-and-the-office-sink-adjmi-andreoli-accused-of-stiffing-landlord-on-31k-rent/Trump Organization sues Saudi prince for $1.8M in unpaid renthttp://feedproxy.google.com/~r/trdnews/~3/nezUDID6KI0/
https://therealdeal.com/2018/02/16/trump-org-sues-saudi-prince-for-1-8m-unpaid-rent/#respondFri, 16 Feb 2018 23:21:12 +0000Will Parkerhttps://therealdeal.com/?p=3132978The Trump Organization sued Prince Faisal Bin Abdul Majeed Bin Abdul Aziz Al Saud in a Manhattan court for allegedly not paying more than $1.8 million in rent at his Trump Park Avenue penthouse. In the six-page complaint, an LLC under the umbrella of President Donald Trump’s namesake company alleges the prince stopped paying rent in January 2017 on a lease that runs through June of 2019. The unpaid bill comes to $1.8 million and […]

]]>https://therealdeal.com/2018/02/16/trump-org-sues-saudi-prince-for-1-8m-unpaid-rent/feed/0https://therealdeal.com/2018/02/16/trump-org-sues-saudi-prince-for-1-8m-unpaid-rent/Exec Adam Popper is out at Columbia Property Trusthttp://feedproxy.google.com/~r/trdnews/~3/Vk-cBdNPLmk/
https://therealdeal.com/2018/02/16/adam-popper-out-at-columbia-property-trust/#respondFri, 16 Feb 2018 23:07:42 +0000kp@therealdeal.comhttps://therealdeal.com/?p=3132918Adam Popper is no longer at Columbia Property Trust, the company confirmed during its fourth-quarter earnings call on Thursday. Popper, who joined the real estate investment trust in February 2016, was in charge of investments and asset management in the eastern U.S. It wasn’t immediately clear why Popper left, whether he was fired, or whether he is moving to another company. He could not immediately be reached for comment. “Adam worked with us for couple […]

]]>https://therealdeal.com/2018/02/16/adam-popper-out-at-columbia-property-trust/feed/0https://therealdeal.com/2018/02/16/adam-popper-out-at-columbia-property-trust/US housing starts were up 10% in January, led by multifamily buildinghttp://feedproxy.google.com/~r/trdnews/~3/FgiqPPy8Ha8/
https://therealdeal.com/la/2018/02/16/us-housing-starts-were-up-10-in-january-led-by-multifamily-building/#new_tab#respondFri, 16 Feb 2018 22:30:02 +0000Erica Presshttps://therealdeal.com/?p=3132698Housing starts nationwide jumped 9.7 percent in January over December, thanks largely to a 19.7 percent increase in residential rental and condominium starts — the biggest increase since December 2016. The annual pace of starts nationwide last month was 1.33 million, up from 1.21 million in December and up from 1.24 million last January, according to the Department of Commerce. January’s increase followed December’s sharp drop of 8.2 percent to an annual rate of 1.19 […]

]]>https://therealdeal.com/la/2018/02/16/us-housing-starts-were-up-10-in-january-led-by-multifamily-building/#new_tab/feed/0https://therealdeal.com/la/2018/02/16/us-housing-starts-were-up-10-in-january-led-by-multifamily-building/#new_tabHAP Investments buys Tribeca site for its next condo projecthttp://feedproxy.google.com/~r/trdnews/~3/BBGBd__X8ZA/
https://therealdeal.com/2018/02/16/hap-buys-tribeca-site-for-its-next-condo-project/#respondFri, 16 Feb 2018 22:00:05 +0000Lexihttps://therealdeal.com/?p=3132730HAP Investments has purchased a development site in Tribeca for $46 million, where it is planning to build a 40-unit condominium project, sources told The Real Deal. The site is located at 65 Franklin Street, right by Broadway, and HAP purchased it from Miami-based Crescent Heights Realty, which was co-founded by Sonny Kahn, Russell Galbut and Bruce Menin. The property contains 64,430 buildable square feet, although this can increase to 77,000 with additional air rights. […]

]]>https://therealdeal.com/2018/02/16/hap-buys-tribeca-site-for-its-next-condo-project/feed/0https://therealdeal.com/2018/02/16/hap-buys-tribeca-site-for-its-next-condo-project/Judge tosses lawsuit seeking to block development at Pier 6http://feedproxy.google.com/~r/trdnews/~3/aJmzulv7zHc/
https://therealdeal.com/2018/02/16/judge-tosses-lawsuit-seeking-to-block-pier-6-project/#respondFri, 16 Feb 2018 21:40:12 +0000Lexihttps://therealdeal.com/?p=3132710A state Supreme Court Judge on Friday tossed a lawsuit seeking to block a two-tower development planned for Brooklyn Bridge Park, finding that the project was an appropriate scale. Judge Carmen Victoria St. George dismissed a lawsuit filed by the Brooklyn Heights Association (BHA) seeking to stop RAL Development Services and partner Oliver’s Realty Group from building a 28-story condominium and 14-story rental building at Pier 6, which have a combined 266 units. The lawsuit […]

]]>https://therealdeal.com/2018/02/16/judge-tosses-lawsuit-seeking-to-block-pier-6-project/feed/0https://therealdeal.com/2018/02/16/judge-tosses-lawsuit-seeking-to-block-pier-6-project/The top NYC real estate events next weekhttp://feedproxy.google.com/~r/trdnews/~3/o_cZn1Xtumc/
https://therealdeal.com/2018/02/16/the-top-nyc-real-estate-events-next-week-15/#respondFri, 16 Feb 2018 21:10:06 +0000Ashley McHughhttps://therealdeal.com/?p=3131062Tune in next week for a few events! On Feb. 22, the Real Estate Board of New York (REBNY) is hosting its Real Estate Tech and Innovation Expo from 6 p.m. to 9 p.m. at Knotel, 665 Madison Avenue. Come and connect with over 30 real estate tech firms and become familiar with their products and services. Mallorie Rosenbluth, head of social media at Seamless/GrubHub, will provide the keynote at the event. Michael Beckerman of […]

]]>https://therealdeal.com/2018/02/16/the-top-nyc-real-estate-events-next-week-15/feed/0https://therealdeal.com/2018/02/16/the-top-nyc-real-estate-events-next-week-15/What they’re reading nowhttp://feedproxy.google.com/~r/trdnews/~3/Qc9GcnFNUdc/
https://therealdeal.com/issues_articles/what-theyre-reading-now-37/#respondFri, 16 Feb 2018 20:50:26 +0000Lexihttps://therealdeal.com/?p=3113518From the February issue: Danielle Garofalo Chief Strategy Officer, Stribling & Associates What are you reading right now or what did you finish most recently? “A House in the Sky” by Amanda Lindhout and Sara Corbett. The book is about Lindhout’s life, and details the 15 months [the journalist] was held captive in Somalia. What spurred you to read that book? I love memoirs and read mostly non-fiction. A friend of mine gave it to me for Christmas […]

]]>https://therealdeal.com/issues_articles/what-theyre-reading-now-37/feed/0https://therealdeal.com/issues_articles/what-theyre-reading-now-37/Coney Island Hospital files plans for massive new buildinghttp://feedproxy.google.com/~r/trdnews/~3/Qp2QPl7emg8/
https://therealdeal.com/2018/02/16/coney-island-hospital-files-plans-for-massive-new-building/#respondFri, 16 Feb 2018 20:30:54 +0000Lexihttps://therealdeal.com/?p=3132614UPDATED, 5:08 p.m. Feb. 16: Coney Island Hospital is adding a gigantic new building to its campus. The institution filed plans with the city’s Department of Buildings on Friday to construct a 10-story building at 2619 Ocean Parkway that would stand 206 feet tall and span about 903,000 square feet. The project would be right by its current 371-bed location at 2601 Ocean Parkway. The project will serve as the hospital’s new resilient critical services building […]

]]>https://therealdeal.com/2018/02/16/coney-island-hospital-files-plans-for-massive-new-building/feed/0https://therealdeal.com/2018/02/16/coney-island-hospital-files-plans-for-massive-new-building/Deal reached to bring long-awaited performing arts center to WTChttp://feedproxy.google.com/~r/trdnews/~3/y-jTdJyGVQg/
https://therealdeal.com/2018/02/16/deal-reached-to-bring-long-awaited-performing-arts-center-to-world-trade-center/#respondFri, 16 Feb 2018 20:05:43 +0000Lexihttps://therealdeal.com/?p=3132558The Ronald O. Perelman Performing Arts Center will make it to the World Trade Center following an agreement between the Port Authority of New York & New Jersey and the Lower Manhattan Development Corporation, according to an announcement from Gov. Andrew Cuomo’s office. Squabbles between the two groups had previously threatened to derail funding for the performing arts center, as the Port Authority had refused to relinquish control over the land for the center until […]

]]>https://therealdeal.com/2018/02/16/deal-reached-to-bring-long-awaited-performing-arts-center-to-world-trade-center/feed/0https://therealdeal.com/2018/02/16/deal-reached-to-bring-long-awaited-performing-arts-center-to-world-trade-center/Real estate vets, check out TRData’s list of recent data packageshttp://feedproxy.google.com/~r/trdnews/~3/8Tz9osi6iLQ/
https://therealdeal.com/2018/02/16/real-estate-vets-check-out-trdatas-list-of-recent-data-packages/#respondFri, 16 Feb 2018 19:35:30 +0000Derek Smithhttps://therealdeal.com/?p=3132346After assembling intricate real estate data for The Real Deal’s reporters, our research team, TRData, has pivoted to position itself as a trusted source of detailed property information for anyone who’d like to gain deeper insight into the New York City real estate market. Over the last six months, we’ve released a range of data packages that focus on new development, contractors, title insurers and lenders, to name a few. In addition to the packages […]

]]>https://therealdeal.com/2018/02/16/real-estate-vets-check-out-trdatas-list-of-recent-data-packages/feed/0https://therealdeal.com/2018/02/16/real-estate-vets-check-out-trdatas-list-of-recent-data-packages/Ranking Manhattan’s biggest residential brokerages by agent counthttp://feedproxy.google.com/~r/trdnews/~3/_QZ7VoHdBOA/
https://therealdeal.com/2018/02/16/ranking-manhattans-biggest-residential-brokerages-by-agent-count/#respondFri, 16 Feb 2018 19:05:59 +0000James Kleimannhttps://therealdeal.com/?p=3132310Amid 2017’s market turmoil, residential firms ramped up recruiting — while agents jockeying for sweeter commission splits happily complied. Things came to a head in early December, when Compass — fresh off a $450 million investment from Softbank — vowed to use the funds to turbocharge its growth both nationally and in New York. By the end of the month, the firm, which is headed by CEO Robert Reffkin, had hired 50 more agents in […]

]]>https://therealdeal.com/2018/02/16/ranking-manhattans-biggest-residential-brokerages-by-agent-count/feed/0https://therealdeal.com/2018/02/16/ranking-manhattans-biggest-residential-brokerages-by-agent-count/The Hamptons estate of Vince Camuto once asked $100M. It sold for a lot lesshttp://feedproxy.google.com/~r/trdnews/~3/Tz_uYxrPUXU/
https://therealdeal.com/2018/02/16/the-hamptons-estate-of-vince-camuto-once-asked-100m-it-sold-for-a-lot-less/#respondFri, 16 Feb 2018 18:35:33 +0000Lexihttps://therealdeal.com/?p=3132398The sprawling Hamptons estate of the late designer Vince Camuto sold for over $49 million — less than half the onetime asking price of $100 million. The property, in Water Mill, New York was most recently listed for $72 million, a discount from the nine-figure price in 2008. The estate was listed on and off over the years, at $49.5 million in 2013 and $67 million in 2015. Two buyers ultimately coughed up $49 million […]

]]>https://therealdeal.com/2018/02/16/the-hamptons-estate-of-vince-camuto-once-asked-100m-it-sold-for-a-lot-less/feed/0https://therealdeal.com/2018/02/16/the-hamptons-estate-of-vince-camuto-once-asked-100m-it-sold-for-a-lot-less/Lam Generation files plans for 38-story hotel in Chelseahttp://feedproxy.google.com/~r/trdnews/~3/MXVvYjJKmQs/
https://therealdeal.com/2018/02/16/lam-generation-files-plans-for-38-story-hotel-in-chelsea/#respondFri, 16 Feb 2018 18:15:10 +0000Lexihttps://therealdeal.com/?p=3132422Lam Generation filed plans to build a 38-story hotel next to its Marriott-branded tower in Chelsea, according to documents filed with the city’s Department of Buildings on Friday. Lam Generation, which is run by Jeffrey Lam, the son of Lam Group head John Lam, is looking to build a 360-key hotel that spans about 130,000 square feet at 113 West 24th Street, records show. The firm first announced plans to build a hotel at the […]

]]>https://therealdeal.com/2018/02/16/lam-generation-files-plans-for-38-story-hotel-in-chelsea/feed/0https://therealdeal.com/2018/02/16/lam-generation-files-plans-for-38-story-hotel-in-chelsea/Wynn Resorts will not pay Steve Wynn a severancehttp://feedproxy.google.com/~r/trdnews/~3/kJXTVuzM35A/
https://therealdeal.com/2018/02/16/wynn-resorts-will-not-pay-steve-wynn-severance/#respondFri, 16 Feb 2018 17:45:18 +0000Lexihttps://therealdeal.com/?p=3132318Wynn Resorts will not pay Steve Wynn any severance following his resignation as chief executive and chairman of the casino company he founded after he resigned in connection with allegations he sexual assaulted several company employees, according to a filing with the U.S. Securities and Exchange Commission. Wynn’s original employment agreement made him eligible for a severance package worth around $330 million, the Wall Street Journal reported. Federal filings detailing Wynn’s separation from the company […]

]]>https://therealdeal.com/2018/02/16/wynn-resorts-will-not-pay-steve-wynn-severance/feed/0https://therealdeal.com/2018/02/16/wynn-resorts-will-not-pay-steve-wynn-severance/Chen Foundation plans condo conversion on West 35th Streethttp://feedproxy.google.com/~r/trdnews/~3/6sbXSlo6kyA/
https://therealdeal.com/2018/02/16/chen-foundation-plans-condo-conversion-on-west-35th-street/#respondFri, 16 Feb 2018 17:15:34 +0000Lexihttps://therealdeal.com/?p=3132270The Chen Foundation, a family landlord affiliated with nonprofit group T.F. Chen Cultural Center, is in the for-profit condominium business. The developer, which bought the 95,000-square-foot loft office building at 335 West 35th Street in 2016 for $50 million, plans to convert the property into 71 condo apartments with a total asking price of $99 million, or about $1.4 million on average, an offering plan filed with the New York state Attorney General’s office shows. […]

]]>https://therealdeal.com/2018/02/16/chen-foundation-plans-condo-conversion-on-west-35th-street/feed/0https://therealdeal.com/2018/02/16/chen-foundation-plans-condo-conversion-on-west-35th-street/Northwood scores $237M loan to buy HNA’s 1180 Sixthhttp://feedproxy.google.com/~r/trdnews/~3/TMvBNJKx4eA/
https://therealdeal.com/2018/02/16/northwood-scores-237m-loan-to-buy-hnas-1180-sixth/#respondFri, 16 Feb 2018 16:45:59 +0000Lexihttps://therealdeal.com/?p=3132222To close its purchase of 1180 Sixth Avenue, Northwood Investors obtained a $236.6 million loan from the Royal Bank of Canada, sources told The Real Deal. Northwood, a real estate investment firm led by John Kukral, closed Thursday on the $305 million purchase of an HNA Group subsidiary and MHP Real Estate Services’ 22-story Midtown office property, as TRD first reported. The financing is a floating-rate loan and represents roughly 78 percent of the purchase […]

]]>https://therealdeal.com/2018/02/16/northwood-scores-237m-loan-to-buy-hnas-1180-sixth/feed/0https://therealdeal.com/2018/02/16/northwood-scores-237m-loan-to-buy-hnas-1180-sixth/Virgo Business Centers expanding presence at Midtown office towerhttp://feedproxy.google.com/~r/trdnews/~3/0JwLFtFS34w/
https://therealdeal.com/2018/02/16/virgo-business-centers-expanding-presence-at-midtown-office-tower/#respondFri, 16 Feb 2018 16:00:20 +0000Lexihttps://therealdeal.com/?p=3132162Virgo Business Centers, a shared office space provider, has inked a sublease deal that will see the firm double its footprint at 1345 Sixth Avenue. The company’s new deal is for just over 42,000 square feet and will encompass the entire 33rd floor at the Fisher Brothers property, according to the Commercial Observer. Virgo should move into the space by June, and the sublease will run through the end of 2024. The asking rent was […]

]]>https://therealdeal.com/2018/02/16/virgo-business-centers-expanding-presence-at-midtown-office-tower/feed/0https://therealdeal.com/2018/02/16/virgo-business-centers-expanding-presence-at-midtown-office-tower/Lenders who prey on veterans hurt other home buyers as wellhttp://feedproxy.google.com/~r/trdnews/~3/rn_pTFTZNSc/
https://therealdeal.com/2018/02/16/lenders-who-prey-on-veterans-hurt-other-home-buyers-as-well/#respondFri, 16 Feb 2018 15:30:57 +0000Lexihttps://therealdeal.com/?p=3132038Could predatory lending practices affecting veterans also be inflating interest rates paid by thousands of unsuspecting home buyers using FHA loans? The answer appears to be yes — and the underlying abuses in home loans to veterans are prompting action by federal authorities and legislation on Capitol Hill. Here’s what’s happening: According to officials, some lenders active in the Department of Veterans Affairs (VA) home-mortgage program have been inducing borrowers to refinance their loans frequently […]

]]>https://therealdeal.com/2018/02/16/lenders-who-prey-on-veterans-hurt-other-home-buyers-as-well/feed/0https://therealdeal.com/2018/02/16/lenders-who-prey-on-veterans-hurt-other-home-buyers-as-well/This low-key NYC real estate investor just landed on Bloomberg’s billionaire’s indexhttp://feedproxy.google.com/~r/trdnews/~3/lJ2drR0SuGU/
https://therealdeal.com/2018/02/16/this-low-key-nyc-real-estate-investor-just-landed-on-bloombergs-billionaires-index/#respondFri, 16 Feb 2018 15:00:12 +0000Lexihttps://therealdeal.com/?p=3132110Real estate investor and banking executive Moses Marx, who owns several prominent commercial buildings in downtown New York, is one of the latest additions to the Bloomberg billionaires index. Marx’s holdings include the 22-story office building at 11 Broadway, the 150,000-square-foot 160 Broadway and the 44-story tower at 225 Broadway, and Bloomberg recently valued his fortune at $1 billion. The octogenarian Orthodox Jewish real estate player keeps an extremely low profile and would not comment […]

]]>https://therealdeal.com/2018/02/16/this-low-key-nyc-real-estate-investor-just-landed-on-bloombergs-billionaires-index/feed/0https://therealdeal.com/2018/02/16/this-low-key-nyc-real-estate-investor-just-landed-on-bloombergs-billionaires-index/It used to be an attic. Now it’s a triplex—with a view of Central Parkhttp://feedproxy.google.com/~r/trdnews/~3/oRkhfGdbKG8/
https://therealdeal.com/2018/02/16/it-used-to-be-an-attic-now-its-a-triplex-with-a-view-of-central-park/#respondFri, 16 Feb 2018 14:30:29 +0000Eddiehttps://therealdeal.com/?p=3132010A former attic at the top of a building along Central Park is now a triplex spanning 10,000 square feet. The home is located atop the Hampshire House at 150 Central Park South, and developer Arnon Katz is behind the project, according to the New York Post. He had been looking for the mechanical system at the building and went upstairs to find it, where he saw the attic. The Hampshire House is a historic […]

]]>https://therealdeal.com/2018/02/16/it-used-to-be-an-attic-now-its-a-triplex-with-a-view-of-central-park/feed/0https://therealdeal.com/2018/02/16/it-used-to-be-an-attic-now-its-a-triplex-with-a-view-of-central-park/Buyer of $10M condo at 150 Charles is Monaco-born billionairehttp://feedproxy.google.com/~r/trdnews/~3/l4VKetm6Ue0/
https://therealdeal.com/2018/02/16/buyer-of-10m-condo-at-150-charles-is-monaco-born-billionaire/#respondFri, 16 Feb 2018 14:00:51 +0000Eddiehttps://therealdeal.com/?p=3132006The new resident at a West Village building teeming with celebrities is a Monaco-born billionaire. Gildo Pallanca Pastor, CEO of Venturi Automobiles, recently bought a condo for $10.25 million at 150 Charles Street through One Lucky Dog, an LLC, according to the New York Post. The unit is a duplex on the fourth floor and had been listed for $10.95 million. Pastor’s new home has three bedrooms and spans 2,670 square feet with a 1,238-square-foot […]

]]>https://therealdeal.com/2018/02/16/buyer-of-10m-condo-at-150-charles-is-monaco-born-billionaire/feed/0https://therealdeal.com/2018/02/16/buyer-of-10m-condo-at-150-charles-is-monaco-born-billionaire/Sentinel sells Windsor Terrace rental building for $34Mhttp://feedproxy.google.com/~r/trdnews/~3/ei1-_XgzMgQ/
https://therealdeal.com/2018/02/16/sentinel-sells-windsor-terrace-building-for-34m/#respondFri, 16 Feb 2018 13:30:16 +0000Lexihttps://therealdeal.com/?p=3131650Sentinel Real Estate Corporation sold a nearly 100,000-square-foot rental apartment building in Windsor Terrace to local landlord Frey Management for $33.7 million, sources told The Real Deal. Frey Management, led by Steven Frey, closed on the purchase earlier this week of the six-story, 83-unit elevator property at 31 Ocean Parkway, sources said. The price came out to just over $400,000 per door. To close the deal, Frey obtained a $19 million, five-year acquisition loan from […]

]]>https://therealdeal.com/2018/02/16/sentinel-sells-windsor-terrace-building-for-34m/feed/0https://therealdeal.com/2018/02/16/sentinel-sells-windsor-terrace-building-for-34m/National Cheat Sheet: CBRE tops Eastdil for most commercial deals, startup to mint the first RE-backed cryptocurrency … & morehttp://feedproxy.google.com/~r/trdnews/~3/T6WZ7Jhd_bw/
https://therealdeal.com/2018/02/16/national-cheat-sheet-cbre-tops-eastdil-for-most-commercial-deals-nationwide-startup-to-mint-the-first-real-estate-backed-cryptocurrency-more/#respondFri, 16 Feb 2018 13:00:13 +0000Jamiehttps://therealdeal.com/?p=3131242CBRE tops Eastdil for highest commercial deal total nationwide With $53.9 billion in deals in 2017, CBRE ranked as the number one commercial brokerage in the U.S. beating perennial frontrunner Eastdil Secured, which handled $40.7 billion in trades, according to Real Estate Alert, which tabulated the rankings. Commercial sales dipped 10 percent last year, with most of the decline coming in larger deals, Eastdil’s specialty. [TRD] Startup to mint the first real estate-backed cryptocurrency California-based […]

]]>https://therealdeal.com/2018/02/16/national-cheat-sheet-cbre-tops-eastdil-for-most-commercial-deals-nationwide-startup-to-mint-the-first-real-estate-backed-cryptocurrency-more/feed/0https://therealdeal.com/2018/02/16/national-cheat-sheet-cbre-tops-eastdil-for-most-commercial-deals-nationwide-startup-to-mint-the-first-real-estate-backed-cryptocurrency-more/Should the real estate industry worry about rising interest rates?http://feedproxy.google.com/~r/trdnews/~3/-CSPwSlS0wE/
https://therealdeal.com/issues_articles/gut-checking-real-estates-interest-rate-fears/#respondFri, 16 Feb 2018 12:30:14 +0000Lexihttps://therealdeal.com/?p=3113542From the February issue: Federal Reserve chairs have the power to put financial markets in a frenzy with a few seemingly harmless phrases. In June 2013, then-Fed Chair Ben Bernanke stepped to the microphone for a regular press conference and suggested the central bank might start winding down its bond-buying program — first enacted in the wake of the 2008 financial crisis — if the economy continued to improve. Immediately after he spoke, the Dow Jones […]

]]>https://therealdeal.com/2018/02/16/the-top-10-nyc-retail-leases-in-january/feed/0https://therealdeal.com/2018/02/16/the-top-10-nyc-retail-leases-in-january/Tudor-style Gramercy penthouse finally sells for $4.4Mhttp://feedproxy.google.com/~r/trdnews/~3/QDMID-LAl_U/
https://therealdeal.com/2018/02/15/tudor-style-gramercy-penthouse-finally-sells-for-4-4m/#respondThu, 15 Feb 2018 23:24:38 +0000Will Parkerhttps://therealdeal.com/?p=3131798A meticulously detailed Tudor-style penthouse that languished on the market for years has finally found a buyer, property records filed with the city Thursday show. Former art dealer and Wall Street computer expert Janos Aranyi lived at the Gramercy apartment for 51 years before selling it last month for $4.4 million. When reached by phone, Aranyi said that he could not recall the name of the buyer, but only that it was a New Jersey-based […]

]]>https://therealdeal.com/2018/02/15/tudor-style-gramercy-penthouse-finally-sells-for-4-4m/feed/0https://therealdeal.com/2018/02/15/tudor-style-gramercy-penthouse-finally-sells-for-4-4m/HNA unloads 1180 Sixth Avenue to Northwood amid selling spreehttp://feedproxy.google.com/~r/trdnews/~3/72Cmc_mddhs/
https://therealdeal.com/2018/02/15/hna-unloads-1180-sixth-avenue-to-northwood-amid-selling-spree/#respondThu, 15 Feb 2018 23:08:12 +0000Erica Presshttps://therealdeal.com/?p=3131766UPDATED, Feb. 16, 10:19 a.m.: In the latest purge of its U.S. assets, HNA Group has sold the Midtown office building at 1180 Sixth Avenue. Northwood Investors, an investment firm led by John Kukral, picked up the 22-story, 384,000-square-foot property from HNA and its partner MHP Real Estate Services for $305 million, The Real Deal has learned. The embattled Chinese conglomerate was hoping to get a head start last year in selling off its cash-strapped […]

]]>https://therealdeal.com/2018/02/15/hna-unloads-1180-sixth-avenue-to-northwood-amid-selling-spree/feed/0https://therealdeal.com/2018/02/15/hna-unloads-1180-sixth-avenue-to-northwood-amid-selling-spree/Bronx tenants who pay rent on time can build credit under new programhttp://feedproxy.google.com/~r/trdnews/~3/RwZEXB09yiE/
https://therealdeal.com/2018/02/15/bronx-tenants-who-pay-rent-on-time-can-build-credit-under-new-program/#respondThu, 15 Feb 2018 23:00:13 +0000Lexihttps://therealdeal.com/?p=3131466Paying the rent on time will now give tenants at 27 South Bronx buildings a chance to improve or establish credit. This is part of a new program that City Comptroller Scott Stringer and the Banana Kelly Community Improvement Association have launched, according to Crain’s. Stringer estimated that 57 percent of renters with credit history across the city could boost their score by up to 10 points under the program, and 19 percent could see […]

]]>https://therealdeal.com/2018/02/15/bronx-tenants-who-pay-rent-on-time-can-build-credit-under-new-program/feed/0https://therealdeal.com/2018/02/15/bronx-tenants-who-pay-rent-on-time-can-build-credit-under-new-program/Brokers no longer need to buy stock to join Brooklyn MLShttp://feedproxy.google.com/~r/trdnews/~3/8uL_rxyWgxI/
https://therealdeal.com/2018/02/15/brokers-no-longer-need-to-buy-stock-to-join-brooklyn-mls/#respondThu, 15 Feb 2018 22:20:57 +0000Lexihttps://therealdeal.com/?p=3131602Buying a $20,000 share of stock will no longer be necessary for brokers looking to join Brooklyn MLS. The organization’s board of directors announced on Thursday that real estate professionals interested in joining will now have the option to join as subsidiary members, a new class of membership that will not require the previously mandatory stock purchase. Subsidiary brokers will have the same listing and selling rights as shareholders, and they will also have access […]

]]>https://therealdeal.com/2018/02/15/brokers-no-longer-need-to-buy-stock-to-join-brooklyn-mls/feed/0https://therealdeal.com/2018/02/15/brokers-no-longer-need-to-buy-stock-to-join-brooklyn-mls/Bruce Willis buying $8M pad at Silverstein, Elad condo projecthttp://feedproxy.google.com/~r/trdnews/~3/2SiYIj5yo4U/
https://therealdeal.com/2018/02/15/bruce-willis-buying-8m-pad-at-silverstein-elad-condo-project/#respondThu, 15 Feb 2018 22:00:27 +0000Lexihttps://therealdeal.com/?p=3131554“Die Hard” actor Bruce Willis is buying hard. Willis and his wife, Emma, are signed a contract to buy a 3,000-square-foot condo at One West End Avenue, the Wall Street Journal reported. Listing brokers Fredrik Eklund and John Gomes declined to disclose the final price for the four-bedroom pad, which was last asking $7.9 million. The Willises recently sold their co-op at 271 Central Park West, which was asking $17.75 million. The unit went into […]

]]>https://therealdeal.com/2018/02/15/bruce-willis-buying-8m-pad-at-silverstein-elad-condo-project/feed/0https://therealdeal.com/2018/02/15/bruce-willis-buying-8m-pad-at-silverstein-elad-condo-project/AEW Capital lands $180M loan for Hudson Square acquisitionhttp://feedproxy.google.com/~r/trdnews/~3/OuSVvoxqyEM/
https://therealdeal.com/2018/02/15/aew-capital-lands-180m-loan-for-hudson-square-acquisition/#respondThu, 15 Feb 2018 21:30:52 +0000Lexihttps://therealdeal.com/?p=3131586Boston-based investment manager AEW Capital landed a $180 million loan for its acquisition of Hudson Square office tower 330 Hudson Street. The lender for the new mortgage is Massachusetts Mutual Life Insurance Company, which assumed the existing $178 million debt on the property from a consortium of lenders led by American General Life Insurance. The loan package also includes a $1.9 million gap mortgage. AEW went into contract on the building in late 2017, as […]

]]>https://therealdeal.com/2018/02/15/aew-capital-lands-180m-loan-for-hudson-square-acquisition/feed/0https://therealdeal.com/2018/02/15/aew-capital-lands-180m-loan-for-hudson-square-acquisition/Hamilton mania: Cyber café inks deal for St. Mark’s building once owned by founding father’s sonhttp://feedproxy.google.com/~r/trdnews/~3/JkfYykvVDCk/
https://therealdeal.com/2018/02/15/hamilton-mania-cyber-cafe-inks-deal-for-st-marks-building-once-owned-by-founding-fathers-son/#respondThu, 15 Feb 2018 21:00:02 +0000Lexihttps://therealdeal.com/?p=3131490Let’s see Lin-Manuel Miranda write a rap about this. Internet and gaming hotspot Wanyoo Café inked a lease for a new location at 4 St. Mark’s Place, which was formerly the home of the founding father’s son. Wanyoo, which has a location in Flushing and last year completed a $30 million Series D funding round, signed a 20-year lease at the renovated building. The deal covers 2,600 square feet on the ground floor and 1,400 […]

]]>https://therealdeal.com/2018/02/15/hamilton-mania-cyber-cafe-inks-deal-for-st-marks-building-once-owned-by-founding-fathers-son/feed/0https://therealdeal.com/2018/02/15/hamilton-mania-cyber-cafe-inks-deal-for-st-marks-building-once-owned-by-founding-fathers-son/Inflation drives mortgage rates to peak not seen since 2014http://feedproxy.google.com/~r/trdnews/~3/_Qi4ajg01Oc/
https://therealdeal.com/la/2018/02/15/inflation-drives-mortgage-rates-to-peak-not-seen-since-2014/#new_tab#respondThu, 15 Feb 2018 20:30:26 +0000Erica Presshttps://therealdeal.com/?p=3131246Mortgage rates on 30-year, fixed-rate loans climbed to 4.38 percent this week, the highest they have been since April 2014. The rates last week stood at 4.32 percent, according to mortgage buyer Freddie Mac. The gains are a direct result of the rising yields for Treasury notes, which have been steadily increasing amid fears of an inflation, Bloomberg reported. The yield on the 10-year note reached above 2.94 percent this week, up from 2.78 percent […]

]]>https://therealdeal.com/la/2018/02/15/inflation-drives-mortgage-rates-to-peak-not-seen-since-2014/#new_tab/feed/0https://therealdeal.com/la/2018/02/15/inflation-drives-mortgage-rates-to-peak-not-seen-since-2014/#new_tabKushner partners under tax investigation: Bloomberg reporthttp://feedproxy.google.com/~r/trdnews/~3/e5L3qEll170/
https://therealdeal.com/2018/02/15/kushner-partners-under-tax-investigation-bloomberg-report/#respondThu, 15 Feb 2018 20:00:58 +0000Lexihttps://therealdeal.com/?p=3131362U.S. tax authorities opened an investigation into lenders and investment partners of Kushner Companies sometime early last year, according to a new Bloomberg report, which cites a person familiar with the matter. Kushner Companies, however, said that “we have never been contacted about our taxes or an audit and to our knowledge, neither have any of our investors.” Multiple people connected to the real estate investment firm have been subpoenaed within the past year, Bloomberg […]

]]>https://therealdeal.com/2018/02/15/kushner-partners-under-tax-investigation-bloomberg-report/feed/0https://therealdeal.com/2018/02/15/kushner-partners-under-tax-investigation-bloomberg-report/Investors and lenders, TRData is your source for developer contact informationhttp://feedproxy.google.com/~r/trdnews/~3/BbDQ9WcKb5M/
https://therealdeal.com/2018/02/15/investors-and-lenders-trdata-is-your-source-for-developer-contact-information/#respondThu, 15 Feb 2018 19:30:49 +0000Derek Smithhttps://therealdeal.com/?p=3115758Obscuring your identity when purchasing a piece of land is par for the course in New York City real estate. Using an LLC to avoid being distinguished is done for a variety of reasons, from separating your business from the property to avoiding the spotlight until you’re ready for it. Despite clever attempts by developers and owners to remain incognito, there are still a variety of ways that an informed researcher with the right tools […]

]]>https://therealdeal.com/2018/02/15/investors-and-lenders-trdata-is-your-source-for-developer-contact-information/feed/0https://therealdeal.com/2018/02/15/investors-and-lenders-trdata-is-your-source-for-developer-contact-information/Thor and Premier are selling Lexus’ new 14th St. home to a German bankhttp://feedproxy.google.com/~r/trdnews/~3/EfWixg7B_bk/
https://therealdeal.com/2018/02/15/thor-and-premier-are-selling-lexus-14th-st-home-to-a-german-bank/#respondThu, 15 Feb 2018 19:05:38 +0000Lexihttps://therealdeal.com/?p=3131218Thor Equities and Premier Equities are selling the Meatpacking District retail condominium fully occupied by Lexus to a subsidiary of Germany’s second-largest bank for $88 million, sources said The Real Deal. The real estate firms, respectively led by Joseph Sitt and Yaron Jacobi, signed a contract this week to sell the three-story, 18,000-square-foot space at 412 West 14th Street, sources said. The luxury carmaker’s concept store Intersect by Lexus has not yet opened. The deal, […]

]]>https://therealdeal.com/2018/02/15/thor-and-premier-are-selling-lexus-14th-st-home-to-a-german-bank/feed/0https://therealdeal.com/2018/02/15/thor-and-premier-are-selling-lexus-14th-st-home-to-a-german-bank/No appointment needed: Institute for Family Health sells Union Square medical officehttp://feedproxy.google.com/~r/trdnews/~3/HW3DZUfF_Uk/
https://therealdeal.com/2018/02/15/no-appointment-needed-institute-for-family-health-sells-union-square-medical-office/#respondThu, 15 Feb 2018 18:30:14 +0000Lexihttps://therealdeal.com/?p=3131190The Institute for Family Health sold its Union Square location for $39.5 million. Gramercy Park Real Estate LLC, whose manager is listed as Michael Horrigan, is the buyer of the six-floor, 37,000-square-foot medical office building at 14-16 East 16th Street, property records show. The Institute did not immediately respond to a request for comment. It first put the property, which sits between Union Square West and Fifth Avenue, on the market in June 2016 with […]

]]>https://therealdeal.com/2018/02/15/no-appointment-needed-institute-for-family-health-sells-union-square-medical-office/feed/0https://therealdeal.com/2018/02/15/no-appointment-needed-institute-for-family-health-sells-union-square-medical-office/Feil lands $180M refi for GE Buildinghttp://feedproxy.google.com/~r/trdnews/~3/LLtiWxPI1xM/
https://therealdeal.com/2018/02/15/feil-organization-lands-180m-refi-for-ge-building/#respondThu, 15 Feb 2018 18:10:55 +0000Lexihttps://therealdeal.com/?p=3131130The Feil Organization refinanced its debt on 570 Lexington Avenue, the landmarked office tower better known as the GE Building, records filed with the city Thursday show. The $180 million deal with lender MetLife replaces previous debt from Northwestern Mutual Life Insurance. The sum includes a new $65 million gap mortgage, according to records filed with the city’s Department of Finance Thursday. Feil’s Jay Anderson did not immediately respond to request for comment. The 50-story […]

]]>https://therealdeal.com/2018/02/15/feil-organization-lands-180m-refi-for-ge-building/feed/0https://therealdeal.com/2018/02/15/feil-organization-lands-180m-refi-for-ge-building/NYS Assembly weighs oversight of the title insurance industryhttp://feedproxy.google.com/~r/trdnews/~3/468uAncFXsg/
https://therealdeal.com/2018/02/15/nys-assembly-weighs-oversight-of-title-industry/#respondThu, 15 Feb 2018 17:55:47 +0000Lexihttps://therealdeal.com/?p=3131090Members of the New York State Assembly are considering ways to regulate the title industry — but without the kind of strict rules imposed on insurers this month by the state. Assemblyman Kevin Cahill, chair of the Assembly’s standing committee on insurance, said the committee is weighing options for restricting title companies’ marketing expenses. But the approach would be more like “putting up guardrails,” rather than the blanket action taken by the Department of Financial […]

]]>https://therealdeal.com/2018/02/15/nys-assembly-weighs-oversight-of-title-industry/feed/0https://therealdeal.com/2018/02/15/nys-assembly-weighs-oversight-of-title-industry/Google made Meatpacking an office destination. But the neighborhood can’t keep up with the giant’s rabid demandhttp://feedproxy.google.com/~r/trdnews/~3/-nGoH9JXQd0/
https://therealdeal.com/2018/02/15/google-made-meatpacking-an-office-destination-but-the-neighborhood-cant-grow-fast-enough-to-keep-up-with-the-giants-rabid-demand/#respondThu, 15 Feb 2018 17:30:24 +0000Erica Presshttps://therealdeal.com/?p=3116794Since Google first entered the Meatpacking District in 2005 with its lease at 111 Eighth Avenue and its latest deal to buy the Chelsea Market building next door for $2.4 billion, the neighborhood’s growing boutique office market has exploded. Developers looking to cash in on the “Google effect” have built and are working on a number of boutique office projects in the supply-constrained submarket, chasing asking rents that have climbed as high as $200 per […]

]]>https://therealdeal.com/2018/02/15/google-made-meatpacking-an-office-destination-but-the-neighborhood-cant-grow-fast-enough-to-keep-up-with-the-giants-rabid-demand/feed/0https://therealdeal.com/2018/02/15/google-made-meatpacking-an-office-destination-but-the-neighborhood-cant-grow-fast-enough-to-keep-up-with-the-giants-rabid-demand/Manhattan’s skyscrapers are put through the most extreme tests you can imaginehttp://feedproxy.google.com/~r/trdnews/~3/BOyjh2HdDJw/
https://therealdeal.com/2018/02/15/manhattans-skyscrapers-are-put-through-the-most-extreme-tests-you-can-imagine/#respondThu, 15 Feb 2018 17:00:43 +0000Lexihttps://therealdeal.com/?p=3131022When developers build supertall towers, they head to a small handful of specialized facilities that pummel building samples with disastrous conditions to make sure they can stand tall. There are only about three or four facilities in the country that can perform the tests, which simulate hurricane-force winds, rain, heat waves and arctic blasts, the Wall Street Journal reported. Hines, for example, tested sections for 53 West 53rd Street, the 1,050-foot-tall condominium tower the Houston-based […]

]]>https://therealdeal.com/2018/02/15/manhattans-skyscrapers-are-put-through-the-most-extreme-tests-you-can-imagine/feed/0https://therealdeal.com/2018/02/15/manhattans-skyscrapers-are-put-through-the-most-extreme-tests-you-can-imagine/CBRE tops Eastdil for highest commercial deal total nationwidehttp://feedproxy.google.com/~r/trdnews/~3/lwyfU11mja8/
https://therealdeal.com/la/2018/02/14/cbre-tops-eastdil-for-highest-deal-total-nationwide/#new_tab#respondThu, 15 Feb 2018 16:30:20 +0000Lexihttps://therealdeal.com/?p=3130906CBRE’s commercial brokerage unit took the top spot with more commercial deals nationwide than any other brokerage in 2017, beating out perennial frontrunner Eastdil Secured. The number of larger deals declined last year, — those deals are Eastdil’s specialty — allowing CBRE to overtake its rival. In total, $244.2 billion of properties that were worth $25 million or more traded across the country last year, according to Real Estate Alert, which tabulated the rankings. That […]

]]>https://therealdeal.com/la/2018/02/14/cbre-tops-eastdil-for-highest-deal-total-nationwide/#new_tab/feed/0https://therealdeal.com/la/2018/02/14/cbre-tops-eastdil-for-highest-deal-total-nationwide/#new_tabNursing home operator sells Queens facility for $25Mhttp://feedproxy.google.com/~r/trdnews/~3/GDn0_RveQsM/
https://therealdeal.com/2018/02/15/nursing-home-operator-sells-queens-facility-for-25m/#respondThu, 15 Feb 2018 16:00:42 +0000Lexihttps://therealdeal.com/?p=3130910Nursing home operator SentosaCare has sold its four-story building in Little Neck to an assisted living company for $25.3 million, according to property records. The building, known as the Little Neck Care Center, is located at 260-19 Nassau Boulevard, with an alternate address of 260-19 Horace Harding Expressway. SentosaCare sold it to RM Holdings Little Neck, LLC, which is affiliated with the senior and special needs housing company Central Assisted Living. Representatives from Sentosa and […]

]]>https://therealdeal.com/2018/02/15/nursing-home-operator-sells-queens-facility-for-25m/feed/0https://therealdeal.com/2018/02/15/nursing-home-operator-sells-queens-facility-for-25m/NYU Langone nearing 200K sf deal at former Citigroup Centerhttp://feedproxy.google.com/~r/trdnews/~3/cqgOD_ICUj4/
https://therealdeal.com/2018/02/15/nyu-langone-nearing-200k-sf-deal-at-former-citigroup-center/#respondThu, 15 Feb 2018 15:30:07 +0000Lexihttps://therealdeal.com/?p=3130922NYU Langone is in late-stage talks with Boston Properties to lease all 200,000 square feet of the renovated atrium building at the base of 601 Lexington Avenue, formerly known as the Citigroup Center. The academic medical center, which in recent years has been expanding its Midtown East campus, has a deal pending to lease all of the office space at the newly rebranded 159 East 53rd Street, sources told The Real Deal. A spokesperson for […]

]]>https://therealdeal.com/2018/02/15/nyu-langone-nearing-200k-sf-deal-at-former-citigroup-center/feed/0https://therealdeal.com/2018/02/15/nyu-langone-nearing-200k-sf-deal-at-former-citigroup-center/Dearth of Chinese, UK buyers was the leading cause of agita for Manhattan i-sales brokers last yearhttp://feedproxy.google.com/~r/trdnews/~3/UVQh0wvvp1I/
https://therealdeal.com/2018/02/15/dearth-of-chinese-uk-buyers-was-the-leading-cause-of-agita-for-manhattan-i-sales-brokers-last-year/#respondThu, 15 Feb 2018 15:00:09 +0000Lexihttps://therealdeal.com/?p=3130870According to this week’s market reports, 651 residential contracts were signed in Manhattan and Manhattan investment sales fell by 41 percent in 2017. Residential Sales | Town Residential Between Jan. 15 and Feb. 11, there were 651 contracts that were signed in Manhattan. Out of that total, 327 contracts were for co-op units, followed by 288 condos and 21 condops. The most active price segments was the $1 million to $2 million range, which accounted […]

]]>https://therealdeal.com/2018/02/15/dearth-of-chinese-uk-buyers-was-the-leading-cause-of-agita-for-manhattan-i-sales-brokers-last-year/feed/0https://therealdeal.com/2018/02/15/dearth-of-chinese-uk-buyers-was-the-leading-cause-of-agita-for-manhattan-i-sales-brokers-last-year/One of the richest men on earth said to be buyer of record-setting UES mansionhttp://feedproxy.google.com/~r/trdnews/~3/XKzyBe3DPqo/
https://therealdeal.com/2018/02/15/one-of-the-richest-men-on-earth-said-to-be-buyer-of-record-setting-ues-mansion/#respondThu, 15 Feb 2018 14:30:10 +0000Lexihttps://therealdeal.com/?p=3130842The high-roller who gave HNA Group $90 million to slightly ease its debt pain in exchange for an opulent Upper East Side mansion has been fingered as billionaire Len Blavatnik. Blavatnik bought the townhouse at 19 East 64th Street from the Chinese conglomerate HNA Group, which had purchased it for $79.5 million last April, according to the New York Post. It was previously the art gallery for the Wildenstein family for 85 years. Forbes has […]

]]>https://therealdeal.com/2018/02/15/one-of-the-richest-men-on-earth-said-to-be-buyer-of-record-setting-ues-mansion/feed/0https://therealdeal.com/2018/02/15/one-of-the-richest-men-on-earth-said-to-be-buyer-of-record-setting-ues-mansion/Domain Companies buys another Gowanus development sitehttp://feedproxy.google.com/~r/trdnews/~3/Uwbi6k8nq_k/
https://therealdeal.com/2018/02/15/domain-companies-buys-another-gowanus-development-site/#respondThu, 15 Feb 2018 14:00:07 +0000Lexihttps://therealdeal.com/?p=3116626Domain Companies is doubling down on Gowanus ahead of the neighborhood’s likely rezoning. The company has purchased 420 Carroll Street for $47.5 million from Property Markets Group, according to Crain’s. The site houses an approximately 65,000-square-foot industrial building, which is occupied by a plumbing and sewer company. The property is currently zoned to accommodate roughly 130,000 square feet of commercial development. Domain purchased a nearby site at 545 Sackett Street in December for $26.5 million, […]

]]>https://therealdeal.com/2018/02/15/domain-companies-buys-another-gowanus-development-site/feed/0https://therealdeal.com/2018/02/15/domain-companies-buys-another-gowanus-development-site/Westchester & Fairfield Cheat Sheet: Inside tech company’s $100M expansion in Wilton, boutique hotel and museum proposed in Peekskill … & morehttp://feedproxy.google.com/~r/trdnews/~3/JiOOTK6sGAs/
https://therealdeal.com/2018/02/15/westchester-fairfield-cheat-sheet-inside-tech-companys-100m-expansion-in-wilton-boutique-hotel-and-museum-proposed-in-peekskill-more/#respondThu, 15 Feb 2018 13:30:03 +0000Jamiehttps://therealdeal.com/?p=3115754Tech company ASML investing up to $100M in Wilton expansion ASML, a computer chip manufacturer, is planning to invest up to $100 million to expand its Wilton manufacturing and engineering center. The planned work, announced by Connecticut governor Dannel Malloy, will add more than 500 jobs at the 300,000-square-foot facility. ASML plans to build a new parking garage and renovate the building. The Dutch company acquired the Wilton property with its 2001 purchase of the […]

]]>https://therealdeal.com/2018/02/15/westchester-fairfield-cheat-sheet-inside-tech-companys-100m-expansion-in-wilton-boutique-hotel-and-museum-proposed-in-peekskill-more/feed/0https://therealdeal.com/2018/02/15/westchester-fairfield-cheat-sheet-inside-tech-companys-100m-expansion-in-wilton-boutique-hotel-and-museum-proposed-in-peekskill-more/Here’s how long it will take Related to cross the finish line at Hudson Yardshttp://feedproxy.google.com/~r/trdnews/~3/ROAdxW45kEc/
https://therealdeal.com/2018/02/15/heres-how-long-it-will-take-related-to-cross-the-finish-line-at-hudson-yards/#respondThu, 15 Feb 2018 13:00:35 +0000Kerry Bargerhttps://therealdeal.com/?p=3116314As a new crop of towers continue their ascent on Manhattan’s Far West Side, Related Companies marches closer to the finish line for the first phase of its massive Hudson Yards development. The $25 billion, 28-acre megaproject saw the first of five towers open in May 2016, when Coach moved into 10 Hudson Yards. Sales are currently underway at 15 Hudson Yards, one of two residential towers at Related’s complex, where four penthouses are asking a […]

]]>https://therealdeal.com/2018/02/15/heres-how-long-it-will-take-related-to-cross-the-finish-line-at-hudson-yards/feed/0https://therealdeal.com/2018/02/15/heres-how-long-it-will-take-related-to-cross-the-finish-line-at-hudson-yards/Can the city carpenters’ union overcome its shady past?http://feedproxy.google.com/~r/trdnews/~3/KL_NAheelwI/
https://therealdeal.com/issues_articles/can-the-city-carpenters-union-overcome-its-shady-past/#new_tab#respondThu, 15 Feb 2018 12:30:55 +0000Lexihttps://therealdeal.com/?p=3113478From the February issue: For decades, the New York City District Council of Carpenters was seen as a carousel of leader-turned-criminals. Between 1982 and 2013, five of the organization’s top leaders were removed or resigned for crimes ranging from bribery to embezzlement. Theodore Maritas’ tenure met the grisliest end: On the eve of his trial on mob-related extortion charges in 1982, the former union head disappeared. He was never found, but his wallet was discovered a […]

]]>https://therealdeal.com/issues_articles/can-the-city-carpenters-union-overcome-its-shady-past/#new_tab/feed/0https://therealdeal.com/issues_articles/can-the-city-carpenters-union-overcome-its-shady-past/#new_tabCan Vornado find a buyer at 666 Fifth?http://feedproxy.google.com/~r/trdnews/~3/tm2wLQpAjyc/
https://therealdeal.com/2018/02/15/can-vornado-find-a-buyer-at-666-fifth/#respondThu, 15 Feb 2018 12:00:22 +0000Lexihttps://therealdeal.com/?p=3116622Vornado Realty Trust made it official this week: the REIT wants to sell its 49.5-percent stake in Kushner Companies’ office tower 666 Fifth Avenue. “We do not intend to hold this asset on a long-term basis,” the company said. In theory, the timing couldn’t be better. “The market had been red hot for minority shares,” said Robert White, president of Real Capital Analytics, who noted that the Manhattan market saw north of $11 billion in […]

]]>https://therealdeal.com/2018/02/15/can-vornado-find-a-buyer-at-666-fifth/feed/0https://therealdeal.com/2018/02/15/can-vornado-find-a-buyer-at-666-fifth/Bank of America signs 190K sf renewal at Brookfield Placehttp://feedproxy.google.com/~r/trdnews/~3/Yp5kZ_4YX2I/
https://therealdeal.com/2018/02/14/bank-of-america-signs-190k-sf-renewal-at-brookfield-place/#respondWed, 14 Feb 2018 23:30:28 +0000Lexihttps://therealdeal.com/?p=3116686Bank of America completed an early renewal for four floors at Brookfield Place in Lower Manhattan, sources told The Real Deal. The company signed a deal for 189,124 square feet across floors 37 to 40 at Brookfield Property Partners’ 225 Liberty Street. Bank of America last renewed its lease in 2011, when the 44-story building was still known as 2 World Financial Center. That lease was set to expire in September 2020. Bank of America’s […]

]]>https://therealdeal.com/2018/02/14/bank-of-america-signs-190k-sf-renewal-at-brookfield-place/feed/0https://therealdeal.com/2018/02/14/bank-of-america-signs-190k-sf-renewal-at-brookfield-place/Saunders & Associates, Meg Salem take off the gloves in ugly Hamptons court battlehttp://feedproxy.google.com/~r/trdnews/~3/d7x_PZxyJAM/
https://therealdeal.com/2018/02/14/saunders-associates-meg-salem-take-off-the-gloves-in-ugly-hamptons-court-battle/#respondWed, 14 Feb 2018 23:15:21 +0000Lexihttps://therealdeal.com/?p=3116666It was at the quintessential Hamptons luncheon the Golden Pear that agent Jesse Spooner says his boss Meg Salem, a top producer at Saunders & Associates, made her fateful pitch. While Salem was making the case for Spooner and the rest of the team to follow her to venture-backed Compass, a colleague was at Salem’s home printing out some real estate listings that belonged to her and some that did not, he testified at U.S. […]

]]>https://therealdeal.com/2018/02/14/saunders-associates-meg-salem-take-off-the-gloves-in-ugly-hamptons-court-battle/feed/0https://therealdeal.com/2018/02/14/saunders-associates-meg-salem-take-off-the-gloves-in-ugly-hamptons-court-battle/Waldorf-Astoria is not for salehttp://feedproxy.google.com/~r/trdnews/~3/vP_l7GeT10M/
https://therealdeal.com/2018/02/14/waldorf-astoria-is-not-for-sale/#respondWed, 14 Feb 2018 23:00:01 +0000Lexihttps://therealdeal.com/?p=3116642The Waldorf Astoria isn’t for sale. That’s according to the CEO of Hilton Worldwide Holdings, which manages the iconic New York City hotel on behalf of Anbang Insurance Group. Despite reports that the Chinese firm is selling off assets, “at the moment, the Waldorf is not one of them,” Christopher Nassetta said during an earnings call Wednesday. He said Anbang plans to plow ahead with a luxury condo conversion, and noted that the hotel is […]

]]>https://therealdeal.com/2018/02/14/waldorf-astoria-is-not-for-sale/feed/0https://therealdeal.com/2018/02/14/waldorf-astoria-is-not-for-sale/Aidan Brooks buys Louis Vuitton-anchored Soho package for $83Mhttp://feedproxy.google.com/~r/trdnews/~3/eeP9Y96IRuE/
https://therealdeal.com/2018/02/14/aidan-brooks-buys-louis-vuitton-anchored-soho-package-for-83m/#respondWed, 14 Feb 2018 22:48:55 +0000Erica Presshttps://therealdeal.com/?p=3116774A group of three Italian families have sold a Soho retail building and two retail condominiums for $82.5 million, sources told The Real Deal. The buyer, Irish investor Aidan Brooks, did not acquire the properties outright, however. In an effort by the sellers to reduce their taxes on the transaction, Brooks bought shares in a Luxembourg holding company that owns the properties. The deal for the five-story building at 106 Prince Street and neighboring retail […]

]]>https://therealdeal.com/2018/02/14/aidan-brooks-buys-louis-vuitton-anchored-soho-package-for-83m/feed/0https://therealdeal.com/2018/02/14/aidan-brooks-buys-louis-vuitton-anchored-soho-package-for-83m/City moves ahead with plans to rezone Governors Islandhttp://feedproxy.google.com/~r/trdnews/~3/5IkkIzcHhgQ/
https://therealdeal.com/2018/02/14/city-moves-ahead-with-plans-to-rezone-governors-island/#respondWed, 14 Feb 2018 22:20:15 +0000Lexihttps://therealdeal.com/?p=3116518The city is moving forward with plans to make way for 4.5 million square feet of development on Governors Island. The Trust for Governors Island held its first meeting this week to discuss rezoning part of the island for commercial real estate development, Crain’s reported. Though the island is zoned for residential use, a 2003 agreement with the federal government prevents the city from building housing. A 2010 masterplan for the island set aside 33 […]

]]>https://therealdeal.com/2018/02/14/city-moves-ahead-with-plans-to-rezone-governors-island/feed/0https://therealdeal.com/2018/02/14/city-moves-ahead-with-plans-to-rezone-governors-island/Major US cities saw sharp drops in new construction projects in 2017: reporthttp://feedproxy.google.com/~r/trdnews/~3/bnpQq6XS0IM/
https://therealdeal.com/miami/2018/02/14/major-us-cities-saw-sharp-drops-in-new-construction-projects-in-2017-report/#new_tab#respondWed, 14 Feb 2018 22:00:00 +0000Erica Presshttps://therealdeal.com/?p=3116346Multifamily and commercial construction slowed in most major U.S. metro areas last year, according to a new report. Major declines in funding for new construction starts were registered in cities like New York, Miami and Los Angeles. The report by Dodge Data & Analytics tracked the 20 cities with the highest dollar contribution for new construction projects last year. The total was $194.7 billion, down from $209 billion in 2016. Dodge mostly attributed the decrease […]

]]>https://therealdeal.com/miami/2018/02/14/major-us-cities-saw-sharp-drops-in-new-construction-projects-in-2017-report/#new_tab/feed/0https://therealdeal.com/miami/2018/02/14/major-us-cities-saw-sharp-drops-in-new-construction-projects-in-2017-report/#new_tabFoxy Management planning 127K sf senior center in Bronxhttp://feedproxy.google.com/~r/trdnews/~3/rNS4UQVb3WA/
https://therealdeal.com/2018/02/14/foxy-management-planning-127k-sf-senior-center-in-bronx/#respondWed, 14 Feb 2018 21:40:34 +0000Lexihttps://therealdeal.com/?p=3116458Foxy Management will bring another large senior building to the Bronx on a three-lot assemblage at the corner of Arthur Avenue and East 179th Street. The developer is planning a nine-story, 177-unit building spanning more than 120,000 square feet on sites at 2016 Arthur Avenue, 612 East 179th Street and 2010 Arthur Avenue. The company is purchasing the sites for about $4 million, according to the Highcap Group’s Guy Vardi, who brokered the assemblage deals along […]

]]>https://therealdeal.com/2018/02/14/foxy-management-planning-127k-sf-senior-center-in-bronx/feed/0https://therealdeal.com/2018/02/14/foxy-management-planning-127k-sf-senior-center-in-bronx/HNA sells UES mansion for $90Mhttp://feedproxy.google.com/~r/trdnews/~3/KckERT2Tw0w/
https://therealdeal.com/2018/02/14/hna-group-sells-ues-mansion-for-90m/#respondWed, 14 Feb 2018 21:20:26 +0000Lexihttps://therealdeal.com/?p=3116526An affiliate of HNA Holdings Group sold an Upper East Side mansion for $90 million less than a year after buying it, amid reports that the Chinese conglomerate is facing financial difficulties. The buyer, whose identity was not immediately clear, controls a Delaware-based entity called East 64th Street Property Holdings LLC, according to property records filed with the city Wednesday. Chen Guoqeng, the company’s co-founder, signed the deed document. HNA bought the 18,860-square-foot mansion at 19 […]

]]>https://therealdeal.com/2018/02/14/hna-group-sells-ues-mansion-for-90m/feed/0https://therealdeal.com/2018/02/14/hna-group-sells-ues-mansion-for-90m/Owner of 589 Fifth Avenue looks to sell 99-year leaseholdhttp://feedproxy.google.com/~r/trdnews/~3/KHdcrGKnYr4/
https://therealdeal.com/2018/02/14/owner-of-589-fifth-looks-to-sell-99-year-leasehold/#respondWed, 14 Feb 2018 20:45:15 +0000Lexihttps://therealdeal.com/?p=3116374The owner of the H&M-anchored 589 Fifth Avenue is looking to sell a leasehold interest in the retail-and-office building. The owner, an entity controlled by London-based Mactaggart Family and Partners, is offering a leasehold interest in the 17-story, 184,000-square-foot building and a 99-year lease on the ground underneath, Real Estate Alert reported. Sources told the publication the property could be worth up to $400 million. The property’s value is driven by the five-story, 68,000-square-foot retail […]

]]>https://therealdeal.com/2018/02/14/owner-of-589-fifth-looks-to-sell-99-year-leasehold/feed/0https://therealdeal.com/2018/02/14/owner-of-589-fifth-looks-to-sell-99-year-leasehold/Solomon Feder plans 158-unit resi building for LIChttp://feedproxy.google.com/~r/trdnews/~3/WkZ10GVlUDM/
https://therealdeal.com/2018/02/14/solomon-feder-plans-158-unit-resi-building-for-lic/#respondWed, 14 Feb 2018 20:15:41 +0000Lexihttps://therealdeal.com/?p=3116342Another large residential project is on its way to Long Island City, this time from developer Solomon Feder. Feder is planning a nine-story, 158-unit residential building on the development site at 45-57 Davis Street, according to plans filed on Wednesday with the city’s Department of Buildings. The building will span about 107,000 square feet overall, with about 290 square feet carved out for retail space. Although Vorea Holdings had initially purchased the site for about […]

]]>https://therealdeal.com/2018/02/14/solomon-feder-plans-158-unit-resi-building-for-lic/feed/0https://therealdeal.com/2018/02/14/solomon-feder-plans-158-unit-resi-building-for-lic/Retail heavyweights turn out for children’s charity benefithttp://feedproxy.google.com/~r/trdnews/~3/YEG5i83k4mM/
https://therealdeal.com/2018/02/14/retail-heavyweights-turn-out-for-childrens-benefit/#respondWed, 14 Feb 2018 19:45:57 +0000Lexihttps://therealdeal.com/?p=3116030Some of the biggest names from the city’s Syrian real estate scene turned out Monday night for a charity to benefit the Center for Special Children in Lakewood, New Jersey. Jeff Sutton, Joe Cayre and Stanley and Haim Chera were among the attendees at the event, which was held at Gotham Hall. Moinian Group founder Joe Moinian was the guest of honor for the second-annual fundraiser; last year it was Larry Silverstein of Silverstein Properties. […]

]]>https://therealdeal.com/2018/02/14/retail-heavyweights-turn-out-for-childrens-benefit/feed/0https://therealdeal.com/2018/02/14/retail-heavyweights-turn-out-for-childrens-benefit/Coming soon: The Real Deal’s Long Island Market Report!http://feedproxy.google.com/~r/trdnews/~3/wxQZGbCfY6c/
https://therealdeal.com/2018/02/14/coming-soon-the-real-deals-long-island-market-report/#respondWed, 14 Feb 2018 19:15:19 +0000Kerry Bargerhttps://therealdeal.com/?p=3115786Which firms made the list of top residential brokerages in Long Island this year? Who are the most active developers on Long Island, and what pols do they need on speed dial to push their projects through? What kind of impact should the office market expect from the growing co-working trend? The Real Deal’s third annual Long Island Market Report is coming out this March and it’s packed with news and data on Nassau and […]

]]>https://therealdeal.com/2018/02/14/coming-soon-the-real-deals-long-island-market-report/feed/0https://therealdeal.com/2018/02/14/coming-soon-the-real-deals-long-island-market-report/Vornado strikes deal with Wal-Mart heiress for West Chelsea assemblagehttp://feedproxy.google.com/~r/trdnews/~3/5LRrfkXbCXQ/
https://therealdeal.com/2018/02/14/vornado-strikes-deal-with-wal-mart-heiress-for-west-chelsea-assemblage/#respondWed, 14 Feb 2018 18:45:31 +0000Lexihttps://therealdeal.com/?p=3116186Updated, Feb. 16, 1:12 p.m.: Vornado Realty Trust is stitching together an assemblage just south of Hudson Yards. Steve Roth’s real estate company acquired 537 West 26th Street in West Chelsea, a one-story commercial building that was once the studio of celebrity photographer Annie Leibovitz, for $44 million, the company announced Tuesday during an earnings call. Vornado already owns the adjacent property to the east at 260 11th Avenue through a 99-year ground lease, and […]

]]>https://therealdeal.com/2018/02/14/vornado-strikes-deal-with-wal-mart-heiress-for-west-chelsea-assemblage/feed/0https://therealdeal.com/2018/02/14/vornado-strikes-deal-with-wal-mart-heiress-for-west-chelsea-assemblage/Westfield makes leadership change at WTC mall following departure of key executivehttp://feedproxy.google.com/~r/trdnews/~3/saqnHaih6OY/
https://therealdeal.com/2018/02/14/westfield-makes-leadership-change-at-wtc-mall/#respondWed, 14 Feb 2018 18:25:39 +0000Lexihttps://therealdeal.com/?p=3116126As Westfield prepares for its $16 billion sale, there’s been a change in leadership at its challenged flagship mall development at the World Trade Center. Michael McNaughton, who joined the mall real estate investment trust in 2015 to oversee development of the World Trade Center mall, left the company late last year. Westfield senior vice president John Marhsall, a company veteran who oversaw the $1 billion renovation of the firm’s Century City mall in Los […]

]]>https://therealdeal.com/2018/02/14/westfield-makes-leadership-change-at-wtc-mall/feed/0https://therealdeal.com/2018/02/14/westfield-makes-leadership-change-at-wtc-mall/In new book, a Trump University “coach” describes a cabal of charlatanshttp://feedproxy.google.com/~r/trdnews/~3/YCTtcAkQDTk/
https://therealdeal.com/2018/02/14/in-new-book-a-trump-university-coach-describes-a-cabal-of-charlatans/#respondWed, 14 Feb 2018 17:30:26 +0000Lexihttps://therealdeal.com/?p=3115718When self-described real estate expert Stephen Gilpin first arrived in Manhattan, he was a Quaalude-popping blue jeans model. To make ends meet, he attended house parties of the wealthy, a handsome face for hire. It was dull work, and to distract himself Gilpin would contemplate the makings of the grand homes of his hosts. It was then, sometime in the 1990s, that Gilpin visited Trump Tower, where he was dazzled by “the sixty-foot high waterfall.” […]

]]>https://therealdeal.com/2018/02/14/in-new-book-a-trump-university-coach-describes-a-cabal-of-charlatans/feed/0https://therealdeal.com/2018/02/14/in-new-book-a-trump-university-coach-describes-a-cabal-of-charlatans/On the prowl: Compass to spend some of that sweet VC money acquiring a Westchester brokeragehttp://feedproxy.google.com/~r/trdnews/~3/G3YdfD2-3aQ/
https://therealdeal.com/2018/02/14/compass-in-expansion-mode-buys-100-agent-westchester-firm/#respondWed, 14 Feb 2018 16:50:51 +0000Lexihttps://therealdeal.com/?p=3115834Compass is pointing north with the acquisition of an 100-agent Westchester brokerage. The venture-backed startup — valued at $2.2 billion after Softank’s $450 million investment late last year— plans to buy Platinum Drive Realty. Terms of deal, announced today, were not disclosed. Launched in 2006 by Heather and Zach Harrison, the Scarsdale-based firm sold $238.7 million worth of real estate in 2017, according to the Hudson Gateway Multiple Listing System. For the past four years, […]

]]>https://therealdeal.com/2018/02/14/compass-in-expansion-mode-buys-100-agent-westchester-firm/feed/0https://therealdeal.com/2018/02/14/compass-in-expansion-mode-buys-100-agent-westchester-firm/Blackstone Mortgage Trust grows portfolio to record $11Bhttp://feedproxy.google.com/~r/trdnews/~3/OhuJURY_ZkQ/
https://therealdeal.com/2018/02/14/blackstone-mortgage-trust-grows-portfolio-to-record-11b/#respondWed, 14 Feb 2018 16:15:18 +0000Lexihttps://therealdeal.com/?p=3115702Blackstone Mortgage Trust grew its loan portfolio by 16 percent to a record $11.1 billion amid strong lending in 2017. The mortgage real estate investment trust issued $1.2 billion in new loans in the fourth quarter and $4.8 billion over the entire year — up 37 percent from 2016. The growth comes amid an increase in competition among non-bank commercial real estate lenders, particularly in New York. A number of real estate investment firms have […]

]]>https://therealdeal.com/2018/02/14/blackstone-mortgage-trust-grows-portfolio-to-record-11b/feed/0https://therealdeal.com/2018/02/14/blackstone-mortgage-trust-grows-portfolio-to-record-11b/Miami Worldcenter’s developer has 10 acres ready for Amazon. But will Bezos play ball?http://feedproxy.google.com/~r/trdnews/~3/N4V2um2wZ2U/
https://therealdeal.com/miami/2018/02/13/nitin-motwani-has-10-acres-ready-for-amazon-but-will-bezos-play-ball/#new_tab#respondWed, 14 Feb 2018 15:45:48 +0000Kerry Bargerhttps://therealdeal.com/?p=3115674Amid the cacophony of cranes and construction crews at the 27-acre Miami Worldcenter in Overtown sits a swath of land, untouched. These are the 10 acres set aside for the holy grail of tenants, Amazon, which last month announced that Miami would be among 20 cities on its shortlist for its second headquarters. The prospect of landing the $5 billion project sent every major developer in Miami – and their entourage of brokers, attorneys, project […]

]]>https://therealdeal.com/2018/02/14/the-top-10-nyc-office-leases-in-january/feed/0https://therealdeal.com/2018/02/14/the-top-10-nyc-office-leases-in-january/So… this is weird: City moves to foreclose on the Atlantic Oceanhttp://feedproxy.google.com/~r/trdnews/~3/T63Xg2A6WvI/
https://therealdeal.com/2018/02/14/city-moves-to-foreclose-on-the-atlantic-ocean/#respondWed, 14 Feb 2018 14:40:22 +0000Lexihttps://therealdeal.com/?p=3115570The city filed to foreclose on a 275,000-square foot site near Staten Island. The owner is allegedly behind on taxes, and here’s a possible reason why: the plot, off the island’s coast at New Dorp Beach, is completely under water. Not to mention no one seems to know who the owner is. Not to be deterred by these complications, the city tentatively assessed the site’s value at $14.01 million, up $2.9 million from a year […]

]]>https://therealdeal.com/2018/02/14/city-moves-to-foreclose-on-the-atlantic-ocean/feed/0https://therealdeal.com/2018/02/14/city-moves-to-foreclose-on-the-atlantic-ocean/Carrie Chiang, Janet Wang and Scott Stewart take top honors at Corcoran awardshttp://feedproxy.google.com/~r/trdnews/~3/dbCZqOv1Fm4/
https://therealdeal.com/2018/02/14/carrie-chiang-janet-wang-and-scott-stewart-take-top-honors-at-corcoran-awards/#respondWed, 14 Feb 2018 14:10:00 +0000James Kleimannhttps://therealdeal.com/?p=3115330Third time’s the charm for Corcoran Group agent Mike Fabbri. After stints at Douglas Elliman and then Compass — where he was director of social media and agent development, respectively — Fabbri decided to ply his trade as a broker in 2016. On Tuesday, Fabbri and business partner Scott Francis were named rookies of the year at Corcoran’s annual sales meeting and awards ceremony. Michael Tannen was rookie of the year in Brooklyn. Perennial top […]

]]>https://therealdeal.com/2018/02/14/carrie-chiang-janet-wang-and-scott-stewart-take-top-honors-at-corcoran-awards/feed/0https://therealdeal.com/2018/02/14/carrie-chiang-janet-wang-and-scott-stewart-take-top-honors-at-corcoran-awards/Bronx home prices reach new recordhttp://feedproxy.google.com/~r/trdnews/~3/Ee7wx3npEPU/
https://therealdeal.com/2018/02/14/bronx-home-prices-reach-new-record/#respondWed, 14 Feb 2018 13:45:59 +0000Lexihttps://therealdeal.com/?p=3115518For all the talk of a Bronx real estate boom in recent years, here’s an interesting fact: home prices still remained below their 2006 peak. Until now. The borough’s average home price rose to $515,000 in the fourth quarter, according to the Real Estate Board of New York, 2 percent above the previous record. In Kingsbridge Heights prices rose by a staggering 15 percent between the end of 2016 and 2017, to $470,000. “It is […]

]]>https://therealdeal.com/2018/02/14/bronx-home-prices-reach-new-record/feed/0https://therealdeal.com/2018/02/14/bronx-home-prices-reach-new-record/De Blasio talks millionaires tax, campaign finance reformhttp://feedproxy.google.com/~r/trdnews/~3/BssS-h5r24A/
https://therealdeal.com/2018/02/14/de-blasio-talks-millionaires-tax-campaign-finance-reform/#respondWed, 14 Feb 2018 13:00:47 +0000kp@therealdeal.comhttps://therealdeal.com/?p=3115494Mayor Bill de Blasio on Tuesday again called for the creation of a millionaires tax to pay for repairs to the city’s subway system. During his fifth State of the City address, the mayor said his administration would “redouble” its efforts to increase the income tax rate for individuals who earn more than $500,000 a year and for couples who make more than $1 million. He framed the proposal as a way to hit back […]

]]>https://therealdeal.com/2018/02/14/de-blasio-talks-millionaires-tax-campaign-finance-reform/feed/0https://therealdeal.com/2018/02/14/de-blasio-talks-millionaires-tax-campaign-finance-reform/The Closing: David Rozenholchttp://feedproxy.google.com/~r/trdnews/~3/RUDm6sMIcPI/
https://therealdeal.com/issues_articles/the-closing-david-rozenholc/#respondWed, 14 Feb 2018 12:30:59 +0000Lexihttps://therealdeal.com/?p=3113454From the February issue: David Rozenholc is one of NYC’s most feared tenant lawyers. Over three-plus decades, Rozenholc has won millions of dollars in settlements and gone up against some of the city’s biggest developers, including the Zeckendorf brothers, Tishman Speyer and Donald Trump. In 2005, he negotiated a $17 million settlement (plus an apartment for $1 a month for life) for a single holdout tenant at what became Zeckendorf’s signature project at 15 Central Park […]

]]>https://therealdeal.com/issues_articles/the-closing-david-rozenholc/feed/0https://therealdeal.com/issues_articles/the-closing-david-rozenholc/WATCH: Jonathan Rose on his development philosophy, why going green makes business sense & morehttp://feedproxy.google.com/~r/trdnews/~3/ibATF8W_zUY/
https://therealdeal.com/2018/02/14/watch-jonathan-rose-on-his-development-philosophy-why-going-green-makes-business-sense-more/#respondWed, 14 Feb 2018 12:00:21 +0000Kerry Bargerhttps://therealdeal.com/?p=3106302﻿﻿﻿ As a scion of the Rose real estate dynasty, it seemed developer Jonathan Rose was destined to one day help lead his family’s firm. “As a child I knew I had this opportunity, this invitation to become part of Rose Associates,” Rose said during an interview with The Real Deal’s Hiten Samtani. “But that was always a debate for myself.” After 13 years at Rose Associates – now run by his cousin Amy — Rose struck […]

]]>https://therealdeal.com/2018/02/14/watch-jonathan-rose-on-his-development-philosophy-why-going-green-makes-business-sense-more/feed/0https://therealdeal.com/2018/02/14/watch-jonathan-rose-on-his-development-philosophy-why-going-green-makes-business-sense-more/Rapid Realty: Franchisees, attorney conspired in “malicious scheme” to destroy brokeragehttp://feedproxy.google.com/~r/trdnews/~3/RmwaQVLoYhY/
https://therealdeal.com/2018/02/13/rapid-realty-says-franchisees-attorney-conspired-in-malicious-scheme-to-destroy-brokerage/#respondWed, 14 Feb 2018 00:17:12 +0000Rich Bockmannhttps://therealdeal.com/?p=3115346UPDATED, Feb. 14, 10:30 a.m.: Rapid Realty is firing back against the attorney and several franchisee owners who accused the firm of selling them a false bill of goods. Rapid filed a lawsuit accusing attorney Kendrick Harris and three franchise owners of a “malicious scheme” to “destroy the existing and future business prospects” for Rapid and its principals, according to court documents filed in Manhattan Supreme Court Tuesday. Harris, of the law firm Harris Law Group, has […]

]]>https://therealdeal.com/2018/02/13/rapid-realty-says-franchisees-attorney-conspired-in-malicious-scheme-to-destroy-brokerage/feed/0https://therealdeal.com/2018/02/13/rapid-realty-says-franchisees-attorney-conspired-in-malicious-scheme-to-destroy-brokerage/HFZ buys UES building in potential assemblage playhttp://feedproxy.google.com/~r/trdnews/~3/dpdSbbtqWj4/
https://therealdeal.com/2018/02/13/hfz-buys-ues-building-in-potential-assemblage-play/#respondTue, 13 Feb 2018 23:35:05 +0000Eddiehttps://therealdeal.com/?p=3115314HFZ Capital Group has purchased a commercial building on the Upper East Side for $22.5 million in a potential assemblage play, according to property records. The developer purchased the two-story building at 1135 Lexington Avenue from Mary McCullough and John Bono, a pair of Long Island-based sellers. It currently houses a branch of First Republic Bank. HFZ also owns 1131 Lexington Avenue, which they purchased at the end of November for $7.1 million, according to […]

]]>https://therealdeal.com/2018/02/13/hfz-buys-ues-building-in-potential-assemblage-play/feed/0https://therealdeal.com/2018/02/13/hfz-buys-ues-building-in-potential-assemblage-play/Zar family lands $170M loan for Times Sq. office towerhttp://feedproxy.google.com/~r/trdnews/~3/0zPGVilwr3E/
https://therealdeal.com/2018/02/13/zar-family-lands-170m-loan-for-times-sq-office-tower/#respondTue, 13 Feb 2018 23:15:25 +0000kp@therealdeal.comhttps://therealdeal.com/?p=3115298UPDATED, Feb. 16, 11:58 a.m.: The Zar family refinanced its office tower at 1450 Broadway with a $170 million loan from Goldman Sachs, according to property records filed with the city. The family’s Zar Group bought the 42-story, 400,200-square-foot Times Square tower for $204 million in 2011. The new loan includes a $67.4 million gap mortgage and replaces a $114 million loan from UBS Real Estate Securities, of which $102.6 million was outstanding. The Zar […]

]]>https://therealdeal.com/2018/02/13/zar-family-lands-170m-loan-for-times-sq-office-tower/feed/0https://therealdeal.com/2018/02/13/zar-family-lands-170m-loan-for-times-sq-office-tower/Fannie Mae hopes to shed more than $1 billion of delinquent loanshttp://feedproxy.google.com/~r/trdnews/~3/sqZF9hVf5kM/
https://therealdeal.com/2018/02/13/fannie-mae-hopes-to-shed-more-than-1-billion-of-delinquent-loans/#respondTue, 13 Feb 2018 23:00:43 +0000Lexihttps://therealdeal.com/?p=3115182Fannie Mae is planning to sell off more than $1 billion worth of loans that are not performing. The sale includes three larger pools of loans and two Community Impact Pools, which are generally smaller, focused on geography and geared toward smaller investors, according to HousingWire. The three larger pools include about 5,900 loans worth roughly $1 billion, and the Community Impact Pools include about 190 loans worth roughly $36 million. Fannie Mae has said […]

]]>https://therealdeal.com/2018/02/13/fannie-mae-hopes-to-shed-more-than-1-billion-of-delinquent-loans/feed/0https://therealdeal.com/2018/02/13/fannie-mae-hopes-to-shed-more-than-1-billion-of-delinquent-loans/Hamptons Cheat Sheet: Shoe magnate’s $72M Water Mill estate finds a buyer, HREO becomes Out East … & morehttp://feedproxy.google.com/~r/trdnews/~3/RS-uTKCyBP8/
https://therealdeal.com/2018/02/13/hamptons-cheat-sheet-shoe-magnates-72m-water-mill-estate-finds-a-buyer-hamptons-real-estate-online-becomes-out-east-more/#respondTue, 13 Feb 2018 22:30:50 +0000Jamiehttps://therealdeal.com/?p=3114558If the shoe fits: Nine West co-founder’s Water Mill estate with $72M asking price sells Vince Camuto’s Water Mill estate has been on and off the market for 10 years, and now it has reportedly found a buyer. The 19th-century mansion known as Villa Maria was listed with Bespoke Real Estate for $72 million, but the final sale price and the new owner of the 15-acre property on Mecox Bay are not yet known. The […]

]]>https://therealdeal.com/2018/02/13/hamptons-cheat-sheet-shoe-magnates-72m-water-mill-estate-finds-a-buyer-hamptons-real-estate-online-becomes-out-east-more/feed/0https://therealdeal.com/2018/02/13/hamptons-cheat-sheet-shoe-magnates-72m-water-mill-estate-finds-a-buyer-hamptons-real-estate-online-becomes-out-east-more/Appellate court clears the way for Gansevoort projecthttp://feedproxy.google.com/~r/trdnews/~3/j-363gYXqV8/
https://therealdeal.com/2018/02/13/appellate-court-clears-way-for-gansevoort-project/#respondTue, 13 Feb 2018 22:00:40 +0000Lexihttps://therealdeal.com/?p=3115146A state appellate division has cleared the way for Aurora Capital Associates and William Gottlieb Real Estate’s controversial Gansevoort Street project. In a decision released on Tuesday, a panel of judges ruled in favor of the developers, finding that the Landmarks Preservation Commission acted “rationally” when it issued a certificate of appropriateness for 60-74 Gansevoort Street. According to the decision, Landmarks acted with “due regard for the historical and architectural styles in the district.” “Only […]

]]>https://therealdeal.com/2018/02/13/appellate-court-clears-way-for-gansevoort-project/feed/0https://therealdeal.com/2018/02/13/appellate-court-clears-way-for-gansevoort-project/Gary Spindler sells 99-year lease of parking lot on the Far West Sidehttp://feedproxy.google.com/~r/trdnews/~3/yQ1vPf_zkH4/
https://therealdeal.com/2018/02/13/gary-spindler-sells-99-year-lease-of-far-west-side-lot/#respondTue, 13 Feb 2018 21:35:41 +0000Lexihttps://therealdeal.com/?p=3115110Parking mogul Gary Spindler handed over control of one if his Far West Side parking lots to a developer from the west – the Midwest, that is. Spindler signed a long-term ground lease on one of his parking lots at 622 West 51st Street to Barrington, Illinois-based LSC Development, property records filed with the city show. Neither Spindler nor LSC principal Christopher Barry could be immediately reached for comment. Financial terms of the lease weren’t […]

]]>https://therealdeal.com/2018/02/13/gary-spindler-sells-99-year-lease-of-far-west-side-lot/feed/0https://therealdeal.com/2018/02/13/gary-spindler-sells-99-year-lease-of-far-west-side-lot/Facebook expands to over 500K sf at Vornado’s 770 Broadwayhttp://feedproxy.google.com/~r/trdnews/~3/ZVU4gno3Fks/
https://therealdeal.com/2018/02/13/facebook-expands-to-over-500k-sf-at-vornados-770-broadway/#respondTue, 13 Feb 2018 21:00:55 +0000Lexihttps://therealdeal.com/?p=3115102Facebook signed a 78,000-square foot lease at Vornado Realty Trust’s 770 Broadway, expanding its footprint in the building to 513,000 square feet. Vornado’s CEO Steve Roth announced the deal during an earnings call Tuesday, Commercial Observer reported. The real estate investment trust freed up the space by buying Kmart out of its lease for the floor Facebook is taking. The retailer will still occupy 82,000 square feet in the landmarked, 1 million-square-foot building in Midtown […]

]]>https://therealdeal.com/2018/02/13/facebook-expands-to-over-500k-sf-at-vornados-770-broadway/feed/0https://therealdeal.com/2018/02/13/facebook-expands-to-over-500k-sf-at-vornados-770-broadway/Russian oligarch denies money laundering allegations in Palm Beach deal with Trumphttp://feedproxy.google.com/~r/trdnews/~3/F14TyyU7QM4/
https://therealdeal.com/miami/2018/02/13/russian-oligarch-denies-money-laundering-allegations-in-palm-beach-deal-with-trump/#new_tab#respondTue, 13 Feb 2018 20:30:02 +0000Erica Presshttps://therealdeal.com/?p=3115030This investigation involves Donald Trump and Russia but has nothing to do with the 2016 presidential election. A Russian billionaire who purchased an oceanside Palm Beach estate from Donald Trump is now denying there was anything fishy about the sale. U.S. Senator Ron Wyden (D-Oregon) has requested property records to investigate allegations of money laundering tied to the $95 million sale of the 6.3-acre Maison de L’Amitie estate in 2008. Dmitry Rybolovlev bought the property […]

]]>https://therealdeal.com/miami/2018/02/13/russian-oligarch-denies-money-laundering-allegations-in-palm-beach-deal-with-trump/#new_tab/feed/0https://therealdeal.com/miami/2018/02/13/russian-oligarch-denies-money-laundering-allegations-in-palm-beach-deal-with-trump/#new_tabCity selects developers to build 500 affordable housing units on vacant lotshttp://feedproxy.google.com/~r/trdnews/~3/tnxdzu1tSWg/
https://therealdeal.com/2018/02/13/city-selects-developers-to-build-500-affordable-housing-units-on-vacant-lots/#respondTue, 13 Feb 2018 20:05:57 +0000Lexihttps://therealdeal.com/?p=3115038The city announced on Tuesday that it had selected development teams to build roughly 500 affordable homes on vacant lots throughout New York, one day after City Comptroller Scott Stringer blasted the city in a report for holding onto hundreds of vacant sites. The new projects represent the Department of Housing Preservation and Development’s third and last round of designations through its New Infill Homeownership Opportunities Program and Neighborhood Construction Program, which were created to […]

]]>https://therealdeal.com/issues_articles/commercial-scorecard-2-13/feed/0https://therealdeal.com/issues_articles/commercial-scorecard-2-13/Danny Meyer moving Union Square office to Union Squarehttp://feedproxy.google.com/~r/trdnews/~3/NbUM7ZXjrNs/
https://therealdeal.com/2018/02/13/danny-meyer-moving-union-square-office-to-union-square/#respondTue, 13 Feb 2018 18:50:00 +0000Lexihttps://therealdeal.com/?p=3114862You can take the Union Square out of Union Square Café, but you can’t take the Union Square Hospitality Group out of Union Square. Danny Meyer is moving his restaurant empire’s corporate office from its longtime home on the east side of Union Square Park. But the new digs will still overlook the namesake square and the farmers market that gave rise to the celebrity restaurateur’s farm-to-table concept more than 30 years ago. Meyer’s Union […]

]]>https://therealdeal.com/2018/02/13/danny-meyer-moving-union-square-office-to-union-square/feed/0https://therealdeal.com/2018/02/13/danny-meyer-moving-union-square-office-to-union-square/Blackstone promotes Jonathan Gray, taps his top deputies to head real estate divisionhttp://feedproxy.google.com/~r/trdnews/~3/kHMbiMm4tVY/
https://therealdeal.com/2018/02/13/blackstone-promotes-jonathan-gray-taps-his-top-deputies-to-head-real-estate-division/#respondTue, 13 Feb 2018 18:20:14 +0000Lexihttps://therealdeal.com/?p=3114818The Blackstone Group named Kathleen McCarthy and Kenneth Caplan co-heads of its real estate division, the company announced Tuesday. The two are replacing Jonathan Gray, who was named president and chief operating officer of Blackstone. Under Gray’s direction, Blackstone’s real estate business became the firm’s largest by assets and generated roughly half of its pretax profit last year. McCarthy’s promotion marks a step forward for gender equality in an industry that’s notoriously male-dominated. An October […]

]]>https://therealdeal.com/2018/02/13/blackstone-promotes-jonathan-gray-taps-his-top-deputies-to-head-real-estate-division/feed/0https://therealdeal.com/2018/02/13/blackstone-promotes-jonathan-gray-taps-his-top-deputies-to-head-real-estate-division/David Rockefeller’s mansion finds a buyerhttp://feedproxy.google.com/~r/trdnews/~3/UonI3kQSQjk/
https://therealdeal.com/2018/02/13/david-rockefellers-ues-mansion-finds-a-buyer/#respondTue, 13 Feb 2018 17:50:00 +0000Lexihttps://therealdeal.com/?p=3114794Banker and philanthropist David Rockefeller’s Upper East Side mansion has found a buyer. The 40-foot-wide property at 146 East 65th Street — last asking $27 million — is in contract after a price cut from $32.5 million last year, according to the website of Brown Harris Stevens, which had the listing. The brick and terra-cotta house was put on the market in June, following Rockefeller’s death last year at 101. Spanning 9,777 square feet, the […]

]]>https://therealdeal.com/2018/02/13/david-rockefellers-ues-mansion-finds-a-buyer/feed/0https://therealdeal.com/2018/02/13/david-rockefellers-ues-mansion-finds-a-buyer/Perchwell claims Sotheby’s from RealPlushttp://feedproxy.google.com/~r/trdnews/~3/VCq68lBFL2g/
https://therealdeal.com/2018/02/13/perchwell-claims-sothebys-from-realplus/#respondTue, 13 Feb 2018 17:20:50 +0000Lexihttps://therealdeal.com/?p=3114758A battle over the residential world’s back-end listing systems is heating up. Perchwell — a startup that competes with On-Line Residential and RealPlus — said Sotheby’s International Realty will transition to from RealPlus its platform, joining more than 10 firms that switched vendors in recent months. Other firms that have made the jump to Perchwell include CORE, Warburg Realty, Stribling & Associates, Berkshire Hathaway, Fox Residential and Sloane Square. In addition to managing listings, Perchwell […]

]]>https://therealdeal.com/2018/02/13/perchwell-claims-sothebys-from-realplus/feed/0https://therealdeal.com/2018/02/13/perchwell-claims-sothebys-from-realplus/Nexus plans condo building at site of gas explosion in East Villagehttp://feedproxy.google.com/~r/trdnews/~3/IBGW5lEvK3M/
https://therealdeal.com/2018/02/13/nexus-plans-condo-building-at-site-of-east-village-gas-explosion/#respondTue, 13 Feb 2018 16:45:45 +0000Lexihttps://therealdeal.com/?p=3114694Nearly three years after an explosion leveled three buildings on Second Avenue and killed two people, Nexus Development Group has filed plans for a seven-story condo project on its site. The developer plans a 21-unit building for 119 Second Avenue, the site of one of the three buildings that collapsed following a gas explosion in 2015. Nexus’ website describes the project as a “high-end” condo featuring one-, two- and three-bedroom units and retail space. According […]